Russia’s Metalloinvest Sees Iron-Ore Price Rebound This Year

Posted on September 30, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Metalloinvest Holding Co. (METIN), the Russian iron-ore producer partly owned by billionaire Alisher Usmanov, expects Chinese demand to spur a rebound in prices from a five-year low by December.

“We think prices may start to recover by the end of this year, partly due to the increasing seasonal demand from China,” Chief Executive Officer Andrey Varichev said in a Sept. 26 interview in Moscow. “We think the level of price balance should be 20 percent to 25 percent higher than the current.”